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Ok, I feel stupid about asking this. But how do I calculate the present value of an ordinary annuity? The text is telling me the PV of an ordinary annuity of $1 at 10$ for 10 periods is 6.1445. The only formula I’ve been given so far is PV = FV / (1+r)^n, so I’m confused on how they got to 6.1445.
AUD - NINJA in Training
BEC - NINJA in Training
FAR - NINJA in Training
REG - NINJA in Training-
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